OptionsHouse

Options Trading News

November 20, 2013  Wed 8:11 AM CT

BBY: SEE CHART GET CHAIN FIND STRATEGIES
Just let it come in already.

This is a market that wants to come down. It is worried about its own shadow. If oil goes down, it's because demand is weak. Retail sales are competitive? The consumer's weak. Fed doesn't taper? The job market's weak. Dollar goes down? The nation's weak.

But the market clings. It doesn't give up the ghost. It's annoying to bulls and bears alike.

TheStreet.com logoTo which I say, terrific. The market goes up hard and then retreats softly. It's four steps forward and two steps back. Ultimately, we are due for another scare. We know that one of the pillar momentum stocks, Best Buy, is getting clocked, and one of the foremost industrials, Cummins, is giving it up hard. These are bellwethers that we look to for direction, and today the direction is down.

But we know that at a certain point these stocks catch bids and hold in after a couple of days, though they have to have a few days of weakness before the bottom. They just don't give up the ghost. It seems that nothing gives up the ghost anymore. And I think it stays that way until the end of the year.

Disclosure: Cramer's charitable trust is long CMI.
Share this article with your friends


Related Stories

BBY

Big investor keeps rolling with Best Buy

August 29, 2016

The electronics retailer has rallied 24 percent in the last three months, and a large trade is extending a bullish position in the name.

OptionsHouse

Premium Services

Education & Strategy

Continue to melt up? Think debit call spreads

The U.S. equities market is continuing to melt up. Even though the labor market is stagnant, the Fed keeps hinting that a short term interest rate hike is coming sometime soon.

View more education articles »